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Private Placement Calendar: Michigan Electric for December
DECEMBER
MICHIGAN ELECTRIC TRANSMISSION, LLC: $50 million six-year first-mortgage bonds; JP Morgan; independent transmission company based in Ann Arbor, Mich.; expected early December business.
UNITIL CORP.: $90 million three-tranche deal issued by Northern Utilities Inc. and Granite State Gas Transmission Inc. in conjunction with Unitil's purchase of the two power companies from NiSource Inc.; RBC Capital Markets; Hampton, N.H.-based public utility holding company; settlement expected early December.
IN THE MARKET
LORD CORP.: $50 million non-callable five-year notes (NAIC-2); PNC Capital Markets; to refinance debt; Cary, N.C.-based designer and manufacturer of vibration- and noise-control systems.
PHOTRONICS INC: Photronics has begun marketing for private placement of an undisclosed amount of senior subordinated debt securities.
PROLIANCE INTERNATIONAL INC.: Proliance signed a letter of intent for $30 million mezzanine financing; proceeds expected to be used to repay current lead lender; transaction expected to close in fourth quarter.
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